Saudi Tadawul Index Closes Marginally Higher on Sector Strength

Saudi Arabia's benchmark stock index posted a modest gain at the close of trading on Thursday, buoyed by strength in key sectors. The Tadawul All Share Index (TASI) finished the session up 0.15%, according to market data.

Session Highlights

The advance was primarily driven by positive performance in the Insurance, Financial Services, and Transport sectors. However, market breadth was negative, indicating that the gains were not widespread across the exchange. Data from the Saudi Exchange showed that 184 stocks fell while only 138 advanced, with 22 companies closing unchanged.

Among the session's top individual performers were:

• Abdullah Saad Mohammed Abo Moati Stationeries Co (TADAWUL:4191), which climbed 7.89% to close at 44.30.
• Saudi Industrial Development Co. (TADAWUL:2130), adding 5.19% to end at 17.22.
• Mutakamela Insurance Co (TADAWUL:8040), which rose 4.82% to 13.92.

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Conversely, the day's biggest decliners included Electrical Industries Co (TADAWUL:1303), which dropped 6.42%, and Al Sorayai Trading & Industrial Group (TADAWUL:1213), which fell 4.60%.

Commodities and Currencies

In the broader markets, energy prices, a key driver for the Saudi economy, were trading higher. Crude oil futures for August delivery rose 1.34% to $80.67 a barrel, while the September Brent oil contract gained 1.27% to $86.03 a barrel.

Elsewhere, the August Gold Futures contract fell 1.11% to trade at $4,006.85 per troy ounce. In currency markets, the Saudi Riyal remained stable against the U.S. dollar, with the USD/SAR pair unchanged at 3.76, reflecting its currency peg.